-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G0+XcRdZ0X18C4pSpX8ikK9Haz+rPnrg+Ukvf7aChloObvyy87DsPbQQ9zJno/8l r9Bruz7oY+hBgfLFfMLr9Q== 0001041061-98-000014.txt : 19980824 0001041061-98-000014.hdr.sgml : 19980824 ACCESSION NUMBER: 0001041061-98-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980821 ITEM INFORMATION: FILED AS OF DATE: 19980821 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRICON GLOBAL RESTAURANTS INC CENTRAL INDEX KEY: 0001041061 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 933951308 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13163 FILM NUMBER: 98695407 BUSINESS ADDRESS: STREET 1: 1900 COLONEL SANDERS LANE CITY: LOUISVILLE STATE: KY ZIP: 40213 BUSINESS PHONE: 5028748300 MAIL ADDRESS: STREET 1: 1900 COLONEL SANDERS LANE CITY: LOUISVILLE STATE: KY ZIP: 40213 FORMER COMPANY: FORMER CONFORMED NAME: GREAT AMERICAN RESTAURANT CO DATE OF NAME CHANGE: 19970618 8-K 1 PRESS RELEASE DATED 8/19/98 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 19, 1998 TRICON GLOBAL RESTAURANTS, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) North Carolina 1-13163 13-3951308 - ----------------------------- ---------------- ---------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1441 Gardiner Lane, Louisville, Kentucky 40213 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (502) 874-8300 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. OTHER EVENTS On August 19, 1998 TRICON Global Restaurants, Inc. issued a press release announcing anticipated third quarter operating and financial trends. A copy of such press release is attached hereto as Exhibit 99 and incorporated herein by reference. Item 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits 99 Press release dated August 19, 1998 from TRICON Global Restaurants, Inc. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TRICON GLOBAL RESTAURANTS, INC. ------------------------------------ (Registrant) Date: August 19, 1998 /s/ Robert L. Carleton --------------- ------------------------------------ Robert L. Carleton Senior Vice President and Controller and Chief Accounting Officer 3 EX-99 2 PRESS RELEASE Exhibit 99 TRICON ANNOUNCES STRONG THIRD QUARTER OPERATING AND FINANCIAL TRENDS LOUISVILLE, KY (August 18, 1998) - Tricon Global Restaurants, Inc. (NYSE:YUM) announces strong operating and financial trends in the third quarter scheduled to end September 5, 1998. Andrall Pearson, Chairman and CEO said: "We're experiencing stronger-than-expected operating profit growth in our business driven by vigor in each of our domestic brands, excellent performance in our international business considering Asia, and lower G&A. Our operating performance has been so strong that we believe that we can achieve at least a 150 basis point improvement in store level margin in the quarter. As we expected, improvement in our base operations is contributing importantly to our overall margin improvement. In the U.S., for the first time in over five years, all three of our brands are simultaneously trending in the low-to-mid single digit range in same store sales growth. Pizza Hut has demonstrated sustained sales and significant margin improvement in the quarter, while sales at KFC have set record levels after the relaunch of Extra Tasty Crispy chicken earlier this month. Taco Bell continued to upgrade the quality of their products by introducing a new all white meat chicken line in a number of products, including their popular flatbread taco, Gorditas. Internationally, countries such as Mexico and the U.K. continue to put in solid performances while our operations in Asia continue to tackle the economic crisis well. Our operating performance in the quarter coupled with continued high levels of refranchising and the benefits of strong cash flow, has increased our confidence in our third quarter and full-year outlook. In the quarter, we expect operating profit to be up about 30 percent, operating EPS to be up over 70 percent while reported EPS, which includes facility action net gains, should be up over 50 percent. The increase in our expectations for the third quarter should also benefit our full-year performance." This announcement contains forward-looking statements that estimate future results from strategic actions. These "forward-looking" statements reflect management's expectations and are based upon currently available data; however, actual results are subject to future events and uncertainties, which could cause actual results to differ from those projected in these statements. Factors that can cause actual results to differ include economic and political conditions in the countries and territories where Tricon operates, the impact of such conditions on consumer spending and currency exchange rates, pricing pressures resulting from competitive discounting, new product and concept development by Tricon and other food industry competitors, the success of our refranchising strategy, and fluctuations in commodity prices. Further information on factors that could affect Tricon's financial and other results are included in the company's Forms 10-Q and 10-K, filed with the Securities and Exchange Commission. 1 -----END PRIVACY-ENHANCED MESSAGE-----